Chrome File Edit View History Bookmarks People Window Help Course: BOM4312.01-FA

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Chrome File Edit View History Bookmarks People Window Help Course: BOM4312.01-FA0117, × McGraw-Hill Education Camp. Chaplink ·C ezto.mheducation.com/hm.tpx Apps G LCU:Horne (. Your Account 0 KnightCite Citation S. × plink connect. FINANCE BOM4312: 81 Fall 2017 Chapter 14 Homework Assignment Question 3 (of 4) 25.00 points Consider a company that has sales in May, June, and July of $10.2 million, $12 2 million, and $9.2 million, respectively. The firm is paid by 30 percent of its customers in the month of the sale, 50 percent in the following month, and 15 percent in the next month (5 percent are bad sales and never pay). What is the cash colected in July? (Enter your answer in millions of dollars rounded to 2 decimal places.) Cash collected References eBook & Resources Difficulty: 2 Intermediate Check my.work esc F4

Explanation / Answer

Cash collected from May sales $    1.53 10.2*15% Cash collected from June sales $    6.10 12.2*50% Cash collected from July sales $    2.76 9.2*30% Cash collected $ 10.39

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